Registration Once the project has been approved, it has to be registered with the Registrar of Companies (ROC). If forming a joint venture or subsidiary, the company must be incorporated and obtain a certificate to commence business. If setting up an office, registration is required with the appropriate regional ROC.

Other Approvals

Once the entry plan has been cleared by the Central Government and registered appropriately, actually setting up will require various State clearances, viz. building planning, land use, environmental clearance, power clearance, etc.

Conclusion

Many overseas companies -- large and small -- have made successful entries into the market since India began its liberalization process in 1991. Yet, some have also attempted and failed. There is no doubt that the potential is vast. India's total market is 950 million and the middle class is huge and growing. Both the central and state governments are aggressively seeking foreign investment -- adding incentive on incentive to encourage overseas companies to set up shop. On the surface in fact, India looks like an investment dream come true. But, in reality, the challenges are equally vast. Those that will succeed in tapping this great nation's potential will do so through careful research and a well-designed plan.